Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 40,459 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 40,459 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the sale, the president now directly owns 1,700,282 shares of the company’s stock, valued at approximately $49,376,189.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Stephen Fredette also recently made the following trade(s):

• On Wednesday, October 9th, Stephen Fredette sold 39,768 shares of Toast stock. The shares were sold at an average price of $29.02, for a total transaction of $1,154,067.36.
• On Wednesday, October 2nd, Stephen Fredette sold 5,511 shares of Toast stock. The shares were sold at an average price of $27.77, for a total transaction of $153,040.47.
• On Monday, September 30th, Stephen Fredette sold 812 shares of Toast stock. The shares were sold at an average price of $28.28, for a total transaction of $22,963.36.
• On Friday, September 27th, Stephen Fredette sold 181,304 shares of Toast stock. The shares were sold at an average price of $28.56, for a total transaction of $5,178,042.24.
• On Monday, September 23rd, Stephen Fredette sold 8,057 shares of Toast stock. The shares were sold at an average price of $28.02, for a total transaction of $225,757.14.
• On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The shares were sold at an average price of $27.34, for a total transaction of $3,943,466.92.
• On Wednesday, September 18th, Stephen Fredette sold 800 shares of Toast stock. The shares were sold at an average price of $27.00, for a total transaction of $21,600.00.
• On Thursday, September 12th, Stephen Fredette sold 101,574 shares of Toast stock. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02.
• On Tuesday, September 10th, Stephen Fredette sold 211,686 shares of Toast stock. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02.
• On Friday, August 2nd, Stephen Fredette sold 1,127 shares of Toast stock. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00.

Toast Stock Performance

Toast stock traded up $0.78 during midday trading on Friday, hitting $30.32. 6,161,373 shares of the company’s stock were exchanged, compared to its average volume of 7,186,082. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $30.70. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of -60.64 and a beta of 1.76. The firm’s 50 day simple moving average is $26.13 and its 200 day simple moving average is $25.11.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, equities research analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently made changes to their positions in the company. West Branch Capital LLC acquired a new stake in shares of Toast in the second quarter valued at about $26,000. LRI Investments LLC acquired a new stake in shares of Toast in the first quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toast in the second quarter valued at about $33,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Toast in the second quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Toast in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TOST. JPMorgan Chase & Co. upped their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. The Goldman Sachs Group increased their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Robert W. Baird increased their target price on shares of Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.78.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.